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If you have employees who are legally required to live at your rental property, you may be able to increase their rents.
In California, allowable rent increases for on-site employees are tied to adjustments in the minimum wage. For businesses with more than 25 employees, the minimum wage is now $10.50 per hour, an increase of 50 cents, which took effect Jan. 1, 2017. As requested by the California Apartment Association, the amount of the monthly rent for an employee who is required to live on site also increased.
Tagged: Legislation